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Gold price exposed to further falls, set for biggest quarterly drop: Analysts

Posted on 27 June 2013

Gold is braced for more pain after sliding 26 per cent so far this year, with chart patterns showing the precious metal’s latest fall exposing prices to deeper losses. Spot gold plummeted to its lowest in nearly 3 years on Wednesday at $1,223.54 an ounce, putting the market on track for its biggest quarterly loss on record.
Gold’s technical picture has looked weak since prices crashed more than $200 in just two days in April after long-term support just above $1,520 - where the lows of September 2011, December 2011 and May 2012 are located - gave way………………………………………..Full Article: Source


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